We get a peek into the dark, shadowy world inhabited by our hedge fund owner, Alden Global Capital, in this piece on the Digital First Media Workers site. It’s an interview with Bob Hall, a former Philadelphia publisher who worked with Alden and DFM CEO Steve Rossi.
And in case you were unclear on what hedge funds do:
Q: Did you admire anything about the Alden business plan for newspapers?
A: Their business plan is a business plan for a hedge fund: How do they make money out of investments they get into? I don’t think they really cared at all about the internal operations. It’s really how do they generate more money? That’s their business. They’re not into running companies or getting involved in the essence of the company. They’re just really looking at numbers.
Read the interview: Tough bargaining: An insider’s view of hedge funds and the news business